Published 14 March 2019
Buckie Got It, St. Kitts and Nevis News Source
ST. KITTS AND NEVIS NOT LISTED ON THE EUROPEAN UNION REVISED
LIST OF NON-COOPERATIVE JURISDICTIONS FOR TAX PURPOSES
The European Union (EU) Finance Ministers on the 12th March 2019 revised its list of noncooperative jurisdictions for tax purposes. The Government of St. Kitts and Nevis is pleased
to note that the Federation was not named among the jurisdictions placed on the EU’s list.
The EU list of non-cooperative tax jurisdictions comprises of countries that either failed to
deliver on their commitments to comply with required good governance criteria or made
inadequate or no commitments at all. The EU’s assessment of jurisdictions examines their
legal and regulatory framework according to established criteria for(i) Tax Transparency,
(ii)Fair Taxation and (iii)Implementation of Anti-BEPS Measures.
St. Kitts and Nevis always strives to adhere to the various international standards and good
practices. The Federation has done well over the years and has emerged as a responsible
partner operating within the international financial system. St. Kitts and Nevis is particularly
proud of its longstanding record of compliance with the standards set by the Organization for
Economic Co-operation and Development (OECD) for the exchange of information for tax
purposes.
The Government has given its commitment to be compliant with the standards set by the EU
and OECD and continues to fulfill its commitments to both institutions as evidenced by:
1. Joining the Inclusive Framework on the Base Erosion and Profit Shifting (BEPS) in
November 2017;
2. Attaining a Largely Compliant rating by the OECD Global Forum for the exchange of
information on request; and
3. Passing in the National Assembly, the Companies (Amendment) Act 2018, and
Passing in the Nevis Island Assembly, the Nevis Business Corporation (Amendment)
Ordinance 2018 and the Nevis Limited Liability Company (Amendment) Ordinance
2018.
With intense work by the St. Kitts and Nevis technical team, the Team Unity Administration
was able to adequately address the concerns raised by the EU within the stipulated timeframe
of 31 December 2018. Unfortunately, this is not the end of this arduous journey for the
Federation.According to the EU, St. Kitts and Nevis will continue to be monitored by the
Code of Conduct Group to ensure that the high-level commitments made to the EU regarding
fair taxation and international tax good governance policies are fulfilled in 2019. In addition,
in respect of the commitments given to the EU, we anticipate further actions to be taken to
ensure that St. Kitts and Nevis complies with new criteria identified by the EU by December
2019. In this regard, St. Kitts and Nevis continues to undertake the review of its legislation
with a view to addressing any deficiencies including amending relevant legislation in
accordance with best practice in international tax matters. Consequently, the Government of
St. Kitts and Nevis will continue to ensure that stakeholders within the Financial Services
Sector and the wider general public are consulted as we endeavor to maintain a strong and
vibrant Sector.
St. Kitts and Nevis has never considered itself to be non-cooperative. The fact that St. Kitts
and Nevis was not named on the EU revised list of non-cooperative jurisdictions is indeed a
proud achievement for the Federation.
Notwithstanding being a small island nation in a playing field littered with larger and more
powerful nations, St. Kitts and Nevis continues to remain resolute in its commitment to
strengthen and uphold the highest principles of fair taxation despite the many challenges that
confront the Federation.
